Caspian Sunrise

CASP · AIM · Energy · mcap £45m · 1.9p

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Financials · LTM to 30 Jun 25

Source: results 01 Dec 25 ↗

Revenue: £20.9m
Operating profit: £90k
Net income: £9.1m
Free cash flow: £2.3m
Net debt: £4.8m
Market cap: £44.8m
EV / EBIT: 499.1×
FCF yield: +5.2%
Price / book: 0.9×

Latest half-year · H1 25 vs H1 24 results 01 Dec 25 ↗

Revenue: £2.6m
Operating profit: −£1.4m
Net income: −£1.9m
Cash from operations: £275k

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies – figures the company reported in USD are converted to £ at the average rate of each period (balance sheets: at the date); when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: FY 24 (twelve months to 31 Dec 24), published 01 Dec 25 · read the results ↗

Source ↗

	Six months ended 30 June 2025 Unaudited US$000s	Restated* Six months ended 30 June 2024 Unaudited US$000s
Continued Operations:
Revenue	3,324	8,011
Cost of sales	(2,452)	(7,320)
Gross Profit	872	691
Selling expense	-	-
Other administrative expenses	(2,666)	(3,890)
Operating (Loss) / Income	(1,794)	3,199
Finance cost	(133)	(213)
Finance income	103	103
Loss before taxation	(1,824)	(2,061)
Taxation	586	1,248
(Loss)/Profit after taxation from continuing operations	(1,238)	(2,061)
Discontinued operations
(Loss)/Profit for the year from discontinued operations (note	(1,485)	4,992
(Loss) / profit for the period	(2,723)	2,931
(Loss)/Profit is attributable to
Owners of the Parent	(2,521)	2,493
Non-controlling interest	(202)	438
(Loss) / profit for the period	(2,723)	2,931
(Loss) / profit attributable to owners of the parent arises from
Continued operations	(1,051)	(2,449)
Discontinued operations	(1,470)	4,942
Total (Loss) / profit attributable to owners of the parent arises from	(2,521)	2,493
Basic and diluted	(0.05)	(0.11)
Basic	(0.11)	0.11
Diluted	(0.11)	0.11

Source ↗

	30 June 2025 US$000s	31 December 2024 US$000s	30 June 2024 US$000s
Assets Non-current assets Unproven oil and gas assets Unaudited Audited 4 Unaudited	54,765	9,148	56,526
Property, plant and equipment	4 ,	507	63,318
Other receivables	3,	513	3,612
Restricted use cash	-	1	-
Total non-current assets	5	7,169	123,456
Current assets Assets held for sale	1,263	62 ,099	-
Inventories	2,472	3,245	3,475
Other receivables	10,183	8,210	13,041
Current tax receivable	840	1,796	-
Cash and cash equivalents	174	2,644	674
Total current assets	74,932	77,994	17,190
Total assets	141,195	135,163	140,646
Equity and liabilities Equity Share capital	34,416	33,116	33,116
Share premium	4,025	126	12 6
Other reserves	2,102	2,102	2,102
Merger reserve	11,511	11,511	11,511
Retained earnings	104,719	107,240	93,119
Cumulative translation reserve	(84,709)	(77,133)	(70,301)
Shareholders' equity	72,064	76,962	69,672
Non-controlling interests	(6,673)	(6,471)	(4,714)
Total equity	65,391	70,491	64,958
Current liabilities Trade and other payables	28,598	20,820	17,425
Current tax liabilities	-	-	1,959
Short-term borrowings	4,133	3,678	8,692
Provision for BNG license payment	-	-	3,178
Current provisions	3,908	3,749	4,029
Liabilities related to assets held for sale	13,766	15,181	-
Total current liabilities	50,405	43,428	35,283
Non-current liabilities
Borrowings	2,678	1,830	2,991
Deferred tax liabilities	7,423	6,406	6,989
Provision for BNG license payment	-	-	12,326
Non-current provisions	1,205	705	1,420
Other payables	14,093	12,303	16,679
Total non-current liabilities	25,399	21,244	40,405
Total liabilities	75,804	64,672	75,689
Total equity and liabilities	141,195	135,163	140,646

Source ↗

	2025 Unaudited US$000s	2024 Unaudited US$000s
Cash flow provided by operating activities Cash received from customers	11,111	22,691
Payments made to suppliers and employees	(10,755)	(16,448)
Net cash generated from operating activities	356	6,244
Cash flow used in investing activities Additions to unproven oil and gas assets	(419)	(4,564)
Purchase of PP&E	(4,894)	(5,270)
Cash proceeds from the asset buyer	678	-
Transfers to restricted use cash	506	-
Cash flow used in investing
activities	(4,129)	(9,834)
Cash flow used by financing activities Loans provided (repaid)	(468)	–
Loans received	1,303	4,990
Other	-	(705)
Dividends paid	-	-
Net cash used by financing activities	1,303	3,817
Net increase /decrease in cash and cash equivalents	(2,470)	227
Cash and cash equivalents at the start of the period	2,644	447
Cash and cash equivalents at the end of the period	174	674

Source ↗

	Year ended 31 December 20 2 4 US$'000	*Restated Year ended 31 December 20 2 3 US$'000
Continuing Operations:
Revenue	31,470	15,036
Cost of sales	(22,221)	(10,838)
Gross profit	9,249	4,198
Selling expense	(167)	(1,947)
Administrative costs	(3,967)	(6,031)
Other operating income	-	3,774
Operating profit	5,115	(6)
Finance cost	(365)	(399)
Finance income	501	231
Profit before taxation	5,251	(174)
Tax credit / (charge)	2,109	(689)
Profit after taxation from continuing operations	7,360	(863)
Discontinued operations (#) Profit for the year from discontinued operations	9,431	11,968
Profit for the year	16,791	11,105
Profit for the year attributable to owners of the parent	16,614	10,590
Profit for the year attributable to non-controlling interest	177	515
	16,791	11,105
Profit / (loss) attributable to owners of the parent arises from
Continuing operations	7,278	(1,258)
Discontinued operations	9,336	11,848
Total profit / (loss) attributable to owners of the parent arises from	16,614	10,590
Earnings per ordinary share attributable to owners of the parent
From continuing operations
Basic and diluted (US cents)	0.32	(0.06)
From continuing and discontinued operations
Basic and diluted (US cents)	0.74	0.47

Source ↗

	20 2 4 US$'000	2023 US$'000
Assets
Non-current assets
Unproven oil and gas assets	49,148	51,963
Property, plant and equipment	4,507	64,930
Trade and other receivables	3,513	3,230
Restricted use cash	1	706
Total non-current assets	57,169	120,829
Current assets
Inventories	3,245	1,497
Trade and other receivables	8,210	12,149
Current tax receivable	1,796	-
Cash and cash equivalents	2,644	447
Total current assets	15,895	14,093
Assets held for sale	62,099	-
Total current assets	77,994	14,093
Total assets	135,163	134,922
Equity and liabilities
Capital and reserves attributable to equity holders of the parent
Share capital	33,116	33,060
Share premium	126	-
Other reserves	2,102	2,102
Merger reserve	11,511	11,511
Retained profit	240	90,626
Cumulative translation reserve	(77,133)	(65,838)
Equity attributable to the owners of the Parent	76,962	71,461
Non-controlling interests	(6,471)	(5,152)
Total equity	70,491	66,309
Current liabilities
Trade and other payables	20,820	16,095
Borrowing	3,678	3,624
Current tax liabilities	-	989
BNG historic costs payable	-	3,178
Current provisions	3,749	4,481
Total current liabilities	28,247	28,367
Liabilities related to assets held for sale	15,181	-
Total current liabilities	43,428	28,367
Non-current liabilities
Borrowing	1,830	3,070
Deferred tax liabilities	6,406	7,378
BNG historic costs payable	-	13,746
Non-current provisions	705	1,160
Withholding tax payable	12,303	14,892
Total non-current liabilities	21,244	40,246
Total liabilities	64,672	68,613
Total equity and liabilities	135,163	134,922

Source ↗

	Group 2024 US$'000	Group 2023 US$'000	Company 2024 US$'000	Company 2023 US$'000
Cash flows from operating activities
Cash received from customers	54,760	39,539	-	-
Payments made to suppliers for goods and services	(34,414)	(28,525)	(857)	(637)
Payments made to employees	(2,476)	(5,353)	(361)	(413)
Net cash flow generated from/ (used in) operating activities	17,870	5,661	(1,218)	(1,050)
Cash flows from investing activities
Purchase of property, plant and equipment	(9,445)	(7,283)	-	-
Additions to unproven oil and gas assets	(6,441)	(4,939)	-	-
Loan provided to the related party as part of the potential acquisition	-	(1,545)	-	-
Advances repaid by subsidiaries	-	-	1,143	1,099
Net cash flow (used in)/ generated from investing activities	(15,886)	(13,767)	1,143	1,099
Cash flows from financing activities
Dividends paid	-	(3,026)	-	(2,605)
Net movement in revolving bank credit facility	505	3,199	-	-
Loans received from related parties	55	4,779	55	200
Repayment of loans from related parties	(696)	-	-	-
Bank interest paid	(356)	(69)	-	-
Net cash flow (used in)/ generated from financing activities	(492)	4,883	55	(2,405)
Net increase/ (decrease) in cash and cash equivalents	1,492	(3,223)	(20)	(2,357)
Cash and cash equivalents at the beginning of the year	1,153	4,376	48	2,405
Cash and cash equivalents at the end of the year	2,645	1,153	28	48

	LTM Jun 25	FY 24	FY 23
Revenue to operating profit
Revenue	20.9	24.6	12.1
Gross profit	7.4	7.2	3.4
Operating profit	0.1	4.0	(0.0)
Operating profit to net income
Finance costs	(0.2)	(0.3)	(0.3)
Profit before tax	4.3	4.1	(0.1)
Tax	1.1	1.7	(0.6)
Net income (owners)	9.1	13.0	8.5
Discontinued operations	2.3	7.4	9.6
Per share
EPS basic	(16.1p)	0.6p	0.4p
EPS diluted	(16.1p)	0.6p	0.4p

	H1 25	vs H1 24	H2 24	H1 24
Revenue to operating profit
Revenue	2.6	−59%	18.3	6.3
Gross profit	0.7	+23%	6.7	0.5
Operating profit	(1.4)	n/m	1.5	2.5
Operating profit to net income
Finance costs	(0.1)	−39%	(0.1)	(0.2)
Profit before tax	(1.4)	n/m	5.7	(1.6)
Tax	0.5	−54%	0.7	1.0
Net income (owners)	(1.9)	n/m	11.0	2.0
Discontinued operations	(1.1)	n/m	3.4	3.9
Per share
EPS basic	(8.0p)	–	(8.1p)	8.7p
EPS diluted	(8.0p)	–	(8.1p)	8.7p

	LTM Jun 25	FY 24	FY 23
Operating activities
Cash from operations	9.3	14.0	4.6
Interest paid	–	(0.3)	(0.1)
Investing activities
Capex (PP&E)	(7.0)	(7.4)	(5.9)
Financing activities
Dividends paid	–	–	(2.4)

	H1 25	vs H1 24	H2 24	H1 24
Operating activities
Cash from operations	0.3	−94%	9.0	4.9
Investing activities
Capex (PP&E)	(3.8)	−9%	(3.2)	(4.2)
Financing activities
Dividends paid	0.0	n/m	–	0.0

	30 Jun 25	31 Dec 24	31 Dec 23
Non-current assets
Property, plant & equipment	6.9	3.6	51.0
Non-current assets	48.3	45.6	94.9
Current assets
Inventories	1.8	2.6	1.2
Trade receivables	7.4	6.5	9.5
Cash	0.1	2.1	0.4
Current assets	54.6	62.2	11.1
Total assets	102.9	107.7	106.0
Current liabilities
Trade payables	20.8	16.6	12.6
Borrowings, current	3.0	2.9	2.8
Current liabilities	36.7	34.6	22.3
Non-current liabilities
Borrowings, non-current	2.0	1.5	2.4
Non-current liabilities	18.5	16.9	31.6
Total liabilities	55.3	51.5	53.9
Equity
Non-controlling interests	(4.9)	(5.2)	(4.0)
Total equity	47.7	56.2	52.1

	30 Jun 25	31 Dec 24	30 Jun 24	31 Dec 23
Non-current assets
Property, plant & equipment	6.9	3.6	50.1	51.0
Non-current assets	48.3	45.6	97.6	94.9
Current assets
Inventories	1.8	2.6	2.7	1.2
Trade receivables	7.4	6.5	10.3	9.5
Cash	0.1	2.1	0.5	0.4
Current assets	54.6	62.2	13.6	11.1
Total assets	102.9	107.7	111.2	106.0
Current liabilities
Trade payables	20.8	16.6	13.8	12.6
Borrowings, current	3.0	2.9	6.9	2.8
Current liabilities	36.7	34.6	27.9	22.3
Non-current liabilities
Borrowings, non-current	2.0	1.5	2.4	2.4
Non-current liabilities	18.5	16.9	32.0	31.6
Total liabilities	55.3	51.5	59.9	53.9
Equity
Non-controlling interests	(4.9)	(5.2)	(3.7)	(4.0)
Total equity	47.7	56.2	51.4	52.1

Read automatically from each results announcement. Check the source before relying on a figure.

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Company filings. Not investment advice.